Business
August 22, 2020
Wynn Offers Ownership for Top Leaders, CEO Contributed Personally
Wynn Resorts Ltd is going the extra mile in keeping its key employees by offering them ownership in the company. And its CEO, Matt Maddox, is again leading the way by giving up his shares for the grant. A Thursday filing with the Securities and Exchange Commission (SEC) showed the company is setting up a […]
Business
August 19, 2020
Wynn Cautions US-Chinese Tensions Could Affect Macau Gaming
With the US-Chinese relations deteriorating under President Donald Trump, Wynn Resorts has expressed concerns that bad politics could impact business. Wynn Resorts Anticipates Worsening of Business Climate in China With the United States drawing nearer to election date, US President Donald Trump has used his gung-ho rhetoric against China generously. He imposed sanctions on several […]
Legal
August 8, 2020
Wynn Resorts Received Subpoenas Related to AML Compliance
Wynn Resorts Ltd disclosed in a filing to the Securities and Exchange Commission (SEC) August 6 that it had received two subpoenas during the first half of the year. The subpoenas relate to compliance with anti-money laundering policies and procedures at Wynn Las Vegas. Official Requests for Information Regarding Possible AML Violations The subpoenas Wynn […]
Business
August 5, 2020
Wynn Resorts Tests 98% of Employees for COVID-19, 300 Infected
Wynn Resorts has been testing staff members at a rate of 500-600 people tested per week to determine if members of the staff have been infected. So far, 300 people have tested positive for the novel coronavirus with nearly the whole work force undergoing a test. Wynn Tests Staff Members for Novel Coronavirus Infection Wynn […]
Legal
July 19, 2020
Sexual Harassment Lawsuit against Steve Wynn Dismissed
The lawsuit against Wynn Resorts filed by nine anonymous women who claimed they were sexually harassed by the company’s former CEO, Steve Wynn, has been dismissed by a federal judge. The women filed against the company stating it was well aware of the actions of its CEO and even tried to cover up the misconduct. […]
Casino
June 30, 2020
Wynn Resorts’ Encore Boston to Furlough 3,000 Employees Prior to Reopening
Massachusetts-based Wynn Resorts’ Encore Boston Harbor is readying to restart operation 3,300 staffers shorter. The employees will be furloughed and reinstated on the job once demand picks up. Furloughed staffers are still considered employees of the company. Encore Boston Readies for Restart 3,000 Staffers Shorter Wynn Resorts’ Encore Boston Harbor has been one of the […]
Casino
June 12, 2020
Wynn Macau Proposes New Series of Senior Notes, Releases Q2 Preliminary Results
Wynn Resorts is considering issuing a series of senior notes, reveals an 8-K filing by the gaming and hospitality operator to the US Securities and Exchange Commission (SEC) Thursday. As per the information submitted, Wynn Macau is proposing to conduct an offering of the Notes to Professional Investors, with its completion subject to market conditions […]
Casino
May 11, 2020
LVS May be Considering the Acquisition of Wynn Resorts, Analysts Suggest
Las Vegas Sands (LVS) may be looking to acquire Wynn Resorts, an analysis by a boutique investment bank and advisory firm for the gaming industry suggests. Union Gaming LLC, in a note published Thursday overnight, cited Okada Manila in the Philippines, Australia-based Crown Resorts, and Wynn Resorts, all three as potential acquisition targets for the […]
Casino
May 7, 2020
Wynn Resorts Revenues Materially Impacted by Casino Closures
Wynn Resorts issued today its first quarter financial results, posting 42.3% drop in operating revenues, due to the closure of its properties, in February in Macau, and from mid-March in the USA. Revenue Impact Material First quarter revenue for the company fell to $953.7 million, from $1.65 billion for Q1 2019, nearly $700 million less, […]
Casino
April 23, 2020
Casinos in Nevada Remain Closed, Reopening Plan Announced
Casinos in Nevada will remain closed. The government has announced a plan for the reopening of businesses. The Stay at Home Oder is Active since March 17 Nevada’s Governor Steve Sisolak issued the stay-at-home order on March 17. The order effectively closed all non-essential businesses, including casinos. The stay at home order was then further […]